TaxTMI 
TaxTMI 
2001 (8) TMI 1455
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....st the Order No. JCP/SPS/ADJN/140 of 2001, dated 24-3-2001 imposing a penalty of Rs. 5.0 lacs on the appellant for contravening the provisions of sections 3 and 4 of the Foreign Exchange Management Act, 1999, besides confiscation of the foreign currency recovered from the appellant on 2-3-2001. 2. Shri A.K. Chatterjee, the learned counsel for the appellant assailed the legality of the impugned or....
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....ssioner, have been given power under the provisions of this Act to adjudicate in respect of contraventions of section 6(3)(g) and section 7(1)(a) of the Foreign Exchange Management Act. No such power has been conferred on the officers of the Customs and Central Excise in respect of contraventions of other provisions of the Foreign Exchange Management Act. Accordingly, Shri Chatterjee strongly cont....
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.... on the same day the said letter was obtained by the officers of the respondents, compelling the appellant to voluntarily waive show-cause notice and personal hearing which belies any reason or logic. Shri Chatterjee strongly contended that the requirements of rule 4 relating to show-cause notice and personal hearing are statutory in nature and, as such, it is incumbent upon the adjudicating autho....
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....ns of law has been contravened by the appellant in respect thereto. 4. Dr. Shamusuddin on behalf of the respondents admitted that no power has been conferred upon the officers of Customs and Central Excise to adjudicate contravention of sections 3 and 4 of Foreign Exchange Management Act and conceded that the matter can be remanded back to appropriate authority for afresh adjudication. 5. Having....